Italy's Campari to buy maker of Grand Marnier cognac
ilsole24ore, La Stampa, 16 March 2016
Bob Kuntze-Concewitz, CEO of Campari Group announced that the Italian Group (owned by the Garavoglia Family) has launched a Public Offer (OPA) for the acquisition of the French Brand Grand Marnier form the French Company Societe’ des Produits Marnier Lapostolle (SPML) S.A.
Campari, who has already 17,19% of the shares of the French Company, launched the Public Offer (according to EU laws) to acquire more than 50% of the shares at the price of 8,05 euros per share (+60,4% compared with the current price of the single share) and expects to close the deal before June. The total value of the acquisition is estimated at 684 million euros.
Campari Group, founded in 1860 has a portfolio of more than 45% of global brands in spirits and is present in 190 Countries. Among the global brands it controls we can find Crodino, Cynar, Cinzano, Ouzo 12, Lemonsoda/Oransoda, Glen Grant Whisky, Averna and Skyy Spirits LLC, owner of the brand Skyy Vodka.
(Summary from ilsole24ore and La Stampa articles dedicated to this news)